Treasury official Bessent just announced that FinCEN has rolled out a geographic targeting order for Hennepin and Ramsey counties in Minnesota. The directive requires financial institutions and money transfer services to submit detailed information on fund movements in those specific jurisdictions.

This move reflects the ongoing scrutiny on cross-border money transfers and assets flowing through regional financial networks. It's part of FinCEN's broader push to tighten AML (Anti-Money Laundering) monitoring in areas flagged for heightened risk. The order means anyone moving funds through these Minnesota counties will likely face stricter documentation requirements and reporting protocols.

For crypto traders and DeFi participants operating in these regions, this signals increasing regulatory attention on how digital assets are transferred and converted to fiat. While the order targets traditional finance channels specifically, it underscores the interconnected nature of crypto-to-fiat onramps and the regulatory pressure building around compliance infrastructure.